As the United States keeps an eye out for signs of deflation there, it has learned one lesson from Japan's battles.
"By doing nothing, you will make the problem worse," said former U.S. Vice President Dan Quayle.
In an interview with The Japan Times in Tokyo on Thursday, Quayle, who is currently serving as a special adviser to U.S. investment trust fund Cerberus Capital Management, said of Japan's deflationary spiral of critical proportions: "We've had a lot of talk, but we've had inaction. We've had a lot of proposals for reform, but the anti-reformers have won."